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Biden Says McCain Camp Ignoring Economy
October 25, 2008 12:31 PM
ABC News Matthew Jaffe reports: As Sen. Barack Obama, D-Ill, releases a new two-minute ad on the economy, his running mate Sen. Joe Biden, D-Del., Saturday morning emphasized to Virginia voters that the Democrats' focus on the nation's financial crisis stood in stark contrast to their Republican rivals' approach.
In the ad, dubbed "Defining Moment," Obama describes his plan to "lift our economy and restore America's place in the world."
"You know how we're finishing up the campaign?" Biden asked 975 Suffolk supporters. "Barack is going up - instead of going negative - we're going up and laying out our plan to fix the economy. That's what we're running on!"
"And ladies and gentlemen, what does the McCain campaign continue to do?" Biden noted. "They want to do anything but talk about the economy."
Here in the southeastern corner of the Commonwealth, Biden criticized comments made a week ago by McCain senior adviser Nancy Pfotenhauer that despite Democratic gains in northern Virginia, the rest of the state was the "Real Virginia."
"As if the rest of your state was not the real Virginia," quipped the Democratic vice-presidential candidate.
"We have made now nine visits to central, southwest, and here in southeast Virginia because, ladies and gentlemen, we're competing for every voter here in the Old Dominion!" the Delaware lawmaker said. "Because we believe the Old Dominion can lead America, literally, to new leadership. Ladies and gentlemen, we win here and we win the presidency."
Following the rally, Biden will return to his Wilmington home for the rest of the weekend, his first trip home in 12 days, concluding the Senator's longest uninterrupted stint on the campaign trial thus far.
October 25, 2008 in Biden, Joe, McCain, John, Obama, Barack | Permalink | User Comments (192)
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Of course they are ignoring the economy.. McCain and Co. have come out and said that if they concentrate on the economy, they lose. It's the failed policies of Bush that has got us into a recession, and McCain offers no change from those policies except in name only. He just doesn't get it, and most likely never will.
Posted by: Concerned American | Oct 25, 2008 12:40:07 PM
McCain isn't ignoring the economy, he just isn't planning to destroy it the way Barack's economic plan will.
Obama's proposed economic plan will yield higher taxation on both small and large business, capital gains, among other economic fundamentals. More than forty percent of the tax relief Obama has proposed for "95% of Americans" will be in the form of credits to individuals who don't currently pay taxes (or as Obama calls it, "spreading the wealth around"). The Obama proposed tax burden levied on small, medium, and large cap businesses will drive the cost of goods and services higher for all Americans. The paultry tax relief Obama has proposed will be dramatically insignificant relative to his proposed government spending, which will push our economy further into an already profound fiscal crisis.
Posted by: Emily | Oct 25, 2008 12:46:22 PM
Ignore it, yes please... no communist solution from the demo_C_R_A_P party....
Posted by: bill | Oct 25, 2008 12:49:10 PM
Concerned American,
I know it was the bush policies that gave way to the sub prime mortgage issues that has driven us into a recession.You are so far off base lets give more to people who already dont want to work for a living.
Posted by: reddog0216 | Oct 25, 2008 12:50:10 PM
Just how bad has the presidential campaign coverage been this year?
So bad that popular online columnist Michael S. Malone, aka ABC.com's "Silicon Insider," wrote Friday, "I’m deeply ashamed right now to be called a 'journalist.'”
Posted by: Obama ONE SCAREY DUDE | Oct 25, 2008 12:53:29 PM
http://online.wsj.com/article/SB122480790550265061.html Obama's real economy issues he wont talk about
Posted by: reddog0216 | Oct 25, 2008 12:53:37 PM
-- Obama's proposed economic plan will yield higher taxation on both small and large business, --
Funny then how the American Small Business League endorses Obama.. you would think that if they would be worse off, they would have gone with McCain!
http://www.asbl.com/showmedia.php?id=1002
And of course, the AFL-CIO has backed Obama as well, citing among other things his superior health plan, how it will cover more Americans and the amount of money it will save businesses:
http://www.aflcio.org/aboutus/thisistheaflcio/outfront/obamaendorsement.cfm
-- More than forty percent of the tax relief Obama has proposed for "95% of Americans" will be in the form of credits to individuals who don't currently pay taxes --
Oh, you mean like EIC and stuff like that we already do.. go figure.. Of course, with McCain giving the greatest tax cuts to the wealthy, the tax burden shifts to the middle class.. so you will wind up paying more taxes under McCain than under Obama.
-- The Obama proposed tax burden levied on small, medium, and large cap businesses will drive the cost of goods and services higher for all Americans. --
Hmmm, ok, so we have small businesses exempt, and corporate tax structures left unchanged.. I guess some people have a different idea of what constitutes a burden.
-- The paultry tax relief Obama has proposed will be dramatically insignificant relative to his proposed government spending, which will push our economy further into an already profound fiscal crisis. --
Oh, now I get it.. you don't have a clue!
Posted by: Concerned American | Oct 25, 2008 12:55:06 PM
-- I know it was the bush policies that gave way to the sub prime mortgage issues that has driven us into a recession. --
Sorry, but we were slipping into recession well before the mortgage bubble burst. The major contributor is sustained long term deficit spending. And as the NBER says:
"Never in the history of modern economics has a large industrial country run persistent current account deficits of the magnitude posted by the U.S. since 2000."
http://www.nber.org/digest/mar06/w11541.html
But I guess if you have no clue about economics, it is not surprising that you have no clue about the differences between each candidates tax plans either.
Posted by: Concerned American | Oct 25, 2008 12:58:36 PM
Concerned American ,
McCain is not rasing anyones taxes infact he wants to lower taxes just as china has done because there economy has slowed down as well.
Posted by: reddog0216 | Oct 25, 2008 1:00:29 PM
Emily,
You obviously bought into McCain's talking points. It doesn't appear that you have taken the time to research for yourself what Obama's tax plan really states.
That's okay, since there is no chance for McCain to win anyways, so if you don't take the time now, you will learn first hand after Obama wins the election.
Rest assured Emily, good things will be happening in the future and you will be able to take advantage of them as well, since Obama is going to be president for all of America, not just for those who voted for him.
President Obama! Get used to it!
Posted by: Independent realist | Oct 25, 2008 1:00:32 PM
-- Obama's real economy issues he wont talk about --
Guess it's the same reason McCain doesn't want to talk about it either.. McCains proposals will raise the national debt significantly more since he isn't generating any revenue.. love it when they discuss one candidates policy without putting it comparison with the others. Old trick, never worked except on those who are clueless enough to fall for it.
Posted by: Concerned American | Oct 25, 2008 1:01:21 PM
-- McCain is not rasing anyones taxes infact he wants to lower taxes just as china has done because there economy has slowed down as well. --
You will pay more in taxes under McCain than you will under Obama, unless you fall into the 5% who make more than $250K. You can compare numbers either using the tax calculator at his web site, or by looking up your tax rates (side by side) at the following:
http://www.taxpolicycenter.org/
By cutting taxes to the wealthy, it shifts the tax burden down.. simple math that most should be able to understand as long as you made it past the 6th grade.
Posted by: Concerned American | Oct 25, 2008 1:04:02 PM
Concerned American ,,
We were slipping into a recession well before the housing market has been driving the cost of living through the roof.Supply and demand if eveyone now qualfies for a mortgage you put a huge demand thus causing the market value to go up also putting a demand on new home driving the cost of building materials.Also increasing the values of people in there home who refinanced pulled out equity and spent it like it was going out of stlye
Posted by: reddog0216 | Oct 25, 2008 1:04:32 PM
ABC when are you going to do the Story on how the Mccain campaign and the PA girl is linked? and how the Mccain campaign reported it on a website before it hit the Media that was planned by the Mccain Campaign
Posted by: Angie | Oct 25, 2008 1:05:19 PM
Concerned American,
Again not true it has been proven by lowering taxes on buissness and people in general your actually gain more revunue.I know clinton was not going to raise taxes on the middle class as well largest tax increase to the middle class ever!!!!
Posted by: reddog0216 | Oct 25, 2008 1:06:46 PM
Nut jobs, and conspiracy theorists, that's all McShame has left believing in him.
President Obama! Get used to it!
Posted by: Independent realist | Oct 25, 2008 1:07:27 PM
Concerned American ,
And rasing taxes on any buissness is going to be felt by the consumer as it will be past right along.There are buissness models that you follow in buissness that are not going to change profit margins.
Posted by: reddog0216 | Oct 25, 2008 1:08:47 PM
-- gain not true it has been proven by lowering taxes on buissness and people in general your actually gain more revunue. --
Proven? By who.. trickle down taxation has never worked, ever. Most would point to Regan.. he managed to increase the national debt by more than all Presidents before him combined, from just under $1 trillion to over $2.6 trillion. and job creation? The unemployment rate hit historic double digit rates under his watch. Bush Jr. managed to raise the deficit by $133 billion his first year in office, and has since set the record twice for the largest single year deficit increases in our history.. and that doesn't include this years fiasco. And that magic trickle down tax plan that creates so many jobs? Unemployment was at 3.9% when he took over.. it hit 6.1% last August.
Posted by: Concerned American | Oct 25, 2008 1:10:55 PM
THE ECONOMY has been all that anyone has been talking about when, in fact, Islamo-Fascist terrorism and the protection of our country is even more important. It's not going to matter how much gasoline costs if you're dead. But I guess a guy whos name is Barack Hussein Obama isn't going to want to talk much about the folks who have been attacking Americans for decades.
Posted by: Ron | Oct 25, 2008 1:11:05 PM
Obama can not fund his plans while being fiscally responsible
Posted by: reddog0216 | Oct 25, 2008 1:11:37 PM
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